I’m not starting a political post here. We have all seen the horrific pictures of flooding in Houston area. First all I hope everyone makes it out safely.
Watching the news coverage, there are tons of cars underwater. Many of these will make it out in the used car market very soon. So buyers beware and be on the look out if buying used cars.
These cars will flood the market in the coming months and this will drive a huge need for new and used cars in the Houston area. Given that the Houston area has 7+ million people, it is Texas where almost everyone has a auto or two. My guess is there will be a million+ autos flooded.
Keep in mind that carfax type of services will not report a flooded car that does not have a insurance claim filed on it. So be sure and have a mechanic inspect your used car purchases closely.